Rs 179 to Rs 1,455: This stock turned into a multibagger in 1 year
The company reported robust earnings for the quarter ended March 2021. It reported a consolidated net profit of Rs 257 crore in Q4 against a profit of Rs 59 crore in the year-ago quarter
BusinessToday.In | May 21, 2021 | Updated 18:24 IST
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Share of Adani Transmission rose 5 per cent to hit a 52-week high and was locked at 5 per cent upper circuit of Rs 1,455.20 today.
The company has now surpassed Adani Ports to become the second most valuable Adani Group company. Market cap of Adani Transmission rose to Rs 1,59,939.88 crore on BSE.
As per the data, Adani Green Energy is the most valuable group company with a market cap of Rs 2.01 trillion.
Rs 179 to Rs 1,455: This stock turned into a multibagger in 1 year origin-businesstoday.intoday.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from origin-businesstoday.intoday.in Daily Mail and Mail on Sunday newspapers.
Shares of Adani Transmission (ATL) rose 5 per cent to Rs 1,187.60, also its new high, on the BSE in intra-day trade on Friday after the company’s consolidated profit after tax jumped over four-fold at Rs 257 crore in March quarter (Q4FY21). The transmission and distribution business arm of the Adani Group had posted profit of Rs 59 crore in the year-ago quarter. The stock surpassed its previous high of Rs 1,147, touched on April 6.
The company’s revenue during the quarter under review grew 3 per cent at Rs 2,276 crore from Rs 2,220 crore. The operational Ebitda (earnings before interest, taxes, depreciation, and amortisation) jumped 18 per cent to Rs 1,034 crore over the previous year quarter. Operating Ebitda margin improved 600 basis points (bps) to 45.43 per cent from 39.41 per cent.
Adani Transmission Limited, India’s largest electricity transmission company in the private sector, today announced a cash profit of Rs 2,929 crore in the fiscal 2021, up 45 per cent year-on-year, and a profit after tax of Rs 1,290 crore, up 82 per cent. For the fourth quarter, the company’s cash profit was Rs 639 crore, a rise of 51 per cent and PAT was up 333 per cent YoY to Rs 257 crore. The company’s revenue for the fiscal 2021 was, however, down by 14 per cent to Rs 8,840 crore on a consolidated basis. This was mainly due to lower revenue contribution from distribution business which was impacted by lower electricity consumption in the commercial and industrial segment in the first half of FY21, when India announced a nationwide lockdown to control Covid-19 pandemic.
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